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Sale of Receivables | 9 Months Ended
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Sep. 30, 2025
Transfers and Servicing [Abstract] |
Sale of Receivables | Sale of Receivables The Company is party to factoring facilities with various financial institutions (the “purchasers”) with an aggregate capacity of $225 million as of September 30, 2025 and December 31, 2024. During the nine months ended September 30, 2025 and 2024, the Company incurred immaterial purchase discount fees which are presented in general and administrative expenses on the Consolidated Statements of Earnings. The table below summarizes the activity under the factoring facilities:
| Nine Months Ended September 30,
(Dollars in millions) | 2025 |  | 2024
Beginning balance | $ | 130 |  |  | $ | 192 |
Sales of receivables | 60 |  |  | 60 |
Cash returned to purchasers | (165) |  |  | (241) |
Outstanding balance sold to purchasers | 25 |  |  | 11 |
Cash collected, not remitted to purchasers(1) | — |  |  | (1) |
Remaining sold receivables | $ | 25 |  |  | $ | 10 |
________________ (1)Represents cash collected on behalf of purchasers and not yet remitted. This balance is included within short-term borrowings and current portion of long-term debt in the Consolidated Balance Sheets.

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- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI 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